Tableau Case Studies Basware's Innovative Approach to Financial Process Digitization with Tableau

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	Basware's Innovative Approach to Financial Process Digitization with Tableau Tableau

Basware's Innovative Approach to Financial Process Digitization with Tableau

Tableau

Technology Category	Analytics & Modeling - Edge Analytics Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries	Cement Finance & Insurance
Applicable Functions	Procurement Product Research & Development
Use Cases	Leasing Finance Automation Supply Chain Visibility
Challenge	Basware, a global provider of SaaS solutions, helps businesses digitize their financial processes to drive compliance, facilitate better process automation, and optimize overall data quality. The company supports over 2,500 customers across more than 175 countries. However, the challenge was to provide these customers with a complete overview of their financial data, from procurement-to-payment (P2P), via a single, central platform. The goal was to enable customers to make faster, more informed decisions and streamline payment processes. The ongoing COVID-19 pandemic further emphasized the need for organizations to have complete visibility of both direct and indirect spending, making accurate analytics essential. Read More
About Customer	Basware's customers are businesses looking to digitize their financial processes to drive compliance, facilitate better process automation, and optimize overall data quality. They are spread across more than 175 countries, with the company supporting over 2,500 customers. These businesses range from small to large scale, operating in various industries. They require a comprehensive overview of their financial data, from procurement to payment, and need to make quick, informed decisions to streamline their payment processes. The customers also need complete visibility of both direct and indirect spending, especially in the wake of the COVID-19 pandemic. Read More
Solution	Basware chose Tableau embedded analytics to power its Basware Analytics solution. This innovative P2P solution consolidates and automates finance and procurement functions across large IT environments, providing 100 percent visibility to customers on where their spend is going and exactly who they are doing business with. Basware Analytics is fully integrated into Basware’s P2P suite, utilizing Tableau embedded analytics to provide customers with vital business intelligence in key operational areas. These include ‘spend insights’, ‘process insights’, and ‘financial insights’. Recent features added include a ‘payment performance analysis’ dashboard and ‘committed spend analytics’, all curated through a single Tableau dashboard, providing a unified view that helps finance teams understand their ongoing currency exposure and cash reserve needs. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Edge Analytics

Platform as a Service (PaaS) - Application Development Platforms

Applicable Industries

Cement

Finance & Insurance

Applicable Functions

Procurement

Product Research & Development

Use Cases

Leasing Finance Automation

Supply Chain Visibility

Challenge

Basware, a global provider of SaaS solutions, helps businesses digitize their financial processes to drive compliance, facilitate better process automation, and optimize overall data quality. The company supports over 2,500 customers across more than 175 countries. However, the challenge was to provide these customers with a complete overview of their financial data, from procurement-to-payment (P2P), via a single, central platform. The goal was to enable customers to make faster, more informed decisions and streamline payment processes. The ongoing COVID-19 pandemic further emphasized the need for organizations to have complete visibility of both direct and indirect spending, making accurate analytics essential.

About Customer

Basware's customers are businesses looking to digitize their financial processes to drive compliance, facilitate better process automation, and optimize overall data quality. They are spread across more than 175 countries, with the company supporting over 2,500 customers. These businesses range from small to large scale, operating in various industries. They require a comprehensive overview of their financial data, from procurement to payment, and need to make quick, informed decisions to streamline their payment processes. The customers also need complete visibility of both direct and indirect spending, especially in the wake of the COVID-19 pandemic.

Solution

Basware chose Tableau embedded analytics to power its Basware Analytics solution. This innovative P2P solution consolidates and automates finance and procurement functions across large IT environments, providing 100 percent visibility to customers on where their spend is going and exactly who they are doing business with. Basware Analytics is fully integrated into Basware’s P2P suite, utilizing Tableau embedded analytics to provide customers with vital business intelligence in key operational areas. These include ‘spend insights’, ‘process insights’, and ‘financial insights’. Recent features added include a ‘payment performance analysis’ dashboard and ‘committed spend analytics’, all curated through a single Tableau dashboard, providing a unified view that helps finance teams understand their ongoing currency exposure and cash reserve needs.

Impact #1	The implementation of Tableau embedded analytics in Basware's P2P suite has resulted in a comprehensive solution that provides customers with vital business intelligence in key operational areas. This has enabled customers to have complete visibility of their spending, helping them make faster, more informed decisions and streamline payment processes. The solution has also allowed customers to identify process inefficiencies and bottlenecks, enabling accurate forecasting of committed spend. The addition of new features like the 'payment performance analysis' dashboard and 'committed spend analytics' has further enhanced the capabilities of the solution, providing a unified view that helps finance teams understand their ongoing currency exposure and cash reserve needs.

Impact #1

The implementation of Tableau embedded analytics in Basware's P2P suite has resulted in a comprehensive solution that provides customers with vital business intelligence in key operational areas. This has enabled customers to have complete visibility of their spending, helping them make faster, more informed decisions and streamline payment processes. The solution has also allowed customers to identify process inefficiencies and bottlenecks, enabling accurate forecasting of committed spend. The addition of new features like the 'payment performance analysis' dashboard and 'committed spend analytics' has further enhanced the capabilities of the solution, providing a unified view that helps finance teams understand their ongoing currency exposure and cash reserve needs.

Benefit #1	100 percent spend visibility delivered via single analytics platform
Benefit #2	Insights gained help customers achieve ROI of 315 percent
Benefit #3	Net sales topped €151 million in 2020

Benefit #1

100 percent spend visibility delivered via single analytics platform

Benefit #2

Insights gained help customers achieve ROI of 315 percent

Benefit #3

Net sales topped €151 million in 2020

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Overview

Basware's Innovative Approach to Financial Process Digitization with Tableau

Operational Impact

Quantitative Benefit